Net Worth: $2.7 B

LAST YEAR: 2.71

CHANGE: -2%

AGE: 74

RESIDENCE: Brentwood

SOURCE OF WEALTH: Medical devices, investments



THE MONEY: Michelson’s investment company, Karlin Asset Management Inc., handles more than $1.5 billion in capital across private equity, real estate, venture capital, natural resources and other asset classes. The portfolio saw a 2% drop over the past year, due primarily to weakness in the venture capital market. An orthopedic spinal surgeon, Michelson became a billionaire in 2005 thanks to a $1.35 billion settlement with medical manufacturing giant Medtronic following an extended legal battle.



THE BUZZ: Michelson holds more than 955 patents related to orthopedic surgery. Last year, the Michelson Found Animals Foundation provided free pet-care services to more than 2,000 families in the Los Angeles area; in June, the foundation offered a $25 million prize to scientists to develop a permanent, nonsurgical, single treatment sterilization method for pets. The Michelson Medical Research Foundation in January awarded its $150,000 annual prize to immunology researcher Jenna Guthmiller for her work to improve the effectiveness of influenza vaccines.